Global food prices set to stagnate as population growth slows

LONDON — Food prices will stagnate over the next decade as the population growth rate declines and income expansion in emerging economies slows.

Food costs will stabilize at a level slightly higher than in the years before the 2007-08 price spike, the Organization for Economic Cooperation and Development (OECD) and the United Nations’ Food & Agriculture Organization (FAO) said in a joint report.

Population growth, the main driver of food prices, will slow to one percent annually through 2025, the organizations said.